What terms would you put in your partnership agreement?

[Chris L.]

For a roughly equal partnership where 2 investors split costs and tasks 50-50 for finding and wholesaling houses (and may buy individually, buying the other person out for related marketing costs), what terms would you include in a partnership agreement?

For those of you with partner or JV contracts, what clauses do you recommend including?

What are some unforeseen things that could change/go wrong to factor in?

All ideas welcome! thanks in advance

[Colin Smith]

Anything and everything you can think of should be agreed upon. The last thing you want is someone to says they will split every 50/50 and then after a couple months they only 10% of the work and contribute 10% of the finances but at the end of the deal expect 50% of the pay. Everything should written out, even if it seems ridiculous in the moment.